IFA agrees on settling KWD 25m loan

SectorFinancial Markets

Mubasher: International Financial Advisors (IFA) has reached an agreement with a bank to settle a loan valued at KWD 24.98 million ($81.9 million), excluding the interest rate due on 30 May 2019. The company, listed on Boursa Kuwait and the Dubai Financial Market (DFM), will pay KWD 6 million as a settlement for the entire value of the loan in two installments, according to the company's disclosure to the DFM on Thursday. The company will repay the first installment at a total value of KWD 3 million within two weeks from 15 September 2020, while the second installment worth KWD 3 million will be paid off in December 2020. After completing the settlement expected in the fourth ...read more...